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a very stark assessment from the house speaker on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing the way it pays down its 401(k). will other companies follow suit? tyler mathisen, my partner, who is always fair, always working, and is always a work in progress, according to this, is at new york stock exchange. hi, ty. >> i am the ultimate work in progress. thank you very much. >>> despite the assessment from the speaker of the house on the fiscal cliff, the fact he says there is no progress being made so far, the dow sort of playing past it. right now the industrials up by 46 points at 13,120 and change. apple is part of the nasdaq. apple down $14 a share. another 2.66% today as scott mentioned a moment ago,
a very stark assessment from the house speaker on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing...
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see you mondays. >>> house speaker john boehner says fiscal cliff talks remain stuck in neutral. >> the president insist on his position. insist on my way or the highway. >> well, going over that highway and the fiscal cliff would kill thousands of jobs, especially in the defense sector and the head of a defense contractor who will feel that pain joins us next along with former vermont governor howard dean who argues maybe going over the fiscal cliff will be the best thing for the nation. >>> later, we have the former chairman of the council of economic advisers under president bush. he's going to join us as well as laura tyson, the former head of the cea under president clinton. we're going to get their take on the cliff and today's jobs number. >>> also, tough week for apple shares. is now the time to load up? stick around for the apple trade in the back half of this hour. stay tuned. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more
see you mondays. >>> house speaker john boehner says fiscal cliff talks remain stuck in neutral. >> the president insist on his position. insist on my way or the highway. >> well, going over that highway and the fiscal cliff would kill thousands of jobs, especially in the defense sector and the head of a defense contractor who will feel that pain joins us next along with former vermont governor howard dean who argues maybe going over the fiscal cliff will be the best thing...
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the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, hav
the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the weekend so i think what's going on here is you're seeing the public blast of ret lick but behind the scenes they are talking to each other. i think the talks are fair le well coordinated. you can tell that by how tightly the white house and boehner camp on the press side have coordinated their rollouts of what they've said about these talks. they're within minutes of each other, using the same language. that's an indication talks are sort of going along here. it is not an indication we will have a deal any time soon but there's no reason to give up hope just now
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some...
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and we look at the continuing fiscal cliff discussions of course. after several days of public proceed announcements and posturing, budget talks have privately resumed before john boehner and the white house. the "wall street journal" says this breaks a new week long silence as that deadline looms. president obama and boehner spoke by phone on wednesday. they promised to renew the negotiations. several top executives have also weighed in on thursday. >> there's been some movement. everybody realizes there has to be a revenue component, spend component, entitlement reform component. >> patrick, where does it hang on now for you? clearly the president last decided there has to be tax rises for the wealthy. if the democratic side can come up with entitlement cuts, maybe we get a deal. >> i think this is pure political theater. this is a situation that was created 18 months ago in order for the politicians to get by the election. now they've done so. we still confront the same fiscal unsustainability here in the united states that's been evident to ever
and we look at the continuing fiscal cliff discussions of course. after several days of public proceed announcements and posturing, budget talks have privately resumed before john boehner and the white house. the "wall street journal" says this breaks a new week long silence as that deadline looms. president obama and boehner spoke by phone on wednesday. they promised to renew the negotiations. several top executives have also weighed in on thursday. >> there's been some...
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united technologies will give us aw fiscal cliff update and a sense of how aerospace is doing now that goodrich, a premium supplier to 'o'space, is part of the family. on friday scotts miracle grow. endless excuse making for missed quarters. can they explain the poor execution? i'll listen, but frankly i doubt it. also on friday we get november industrial production and capacity utilization numbers. did november really matter or was it all sandy? i think prices were stagnant. but i want to try to figure out whether the new boom in cars and homes could impact industrial production and capacity utilization no matter what. i'm trying to understand the unemployment number today. after these numbers that we get now, after those we're going to be officially on recession watch going forward, meaning that we expect all the good numbers to kind of let's say peter out because of the fiscal cliff and what it's doing for hiring, or the lack of it. and speaking of the fiscal cliff, let me say to washington, no vacation without legislation. we will be virtually monitoring airports to see which legis
united technologies will give us aw fiscal cliff update and a sense of how aerospace is doing now that goodrich, a premium supplier to 'o'space, is part of the family. on friday scotts miracle grow. endless excuse making for missed quarters. can they explain the poor execution? i'll listen, but frankly i doubt it. also on friday we get november industrial production and capacity utilization numbers. did november really matter or was it all sandy? i think prices were stagnant. but i want to try...
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. >>> there's no deal to resolve the fiscal cliff but there are indications of inside-the-scenes talk. the white house told reporters that lines of communication remain open not sure exactly what that means but a spokesman for house speaker john boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this morning, the same area as the devastating march 2011 quake. but there was a tsunami warning canceled and reports of injuries or damage even though the quake shook buildings. workers at the fukushima nuclear plant were ordered to higher ground as a precaution. >>> our guest host is dan gilbert, he's chairman and founder of quicken loans and the owners of the nba's cleveland cavaliers and among the topics we're ready to talk about dan, the risk of the looming fiscal cliff and the broader economy. we'll start with this morning's other top stories. dan, welcome, great to have you here. >> great to be here. >> we want to fin
. >>> there's no deal to resolve the fiscal cliff but there are indications of inside-the-scenes talk. the white house told reporters that lines of communication remain open not sure exactly what that means but a spokesman for house speaker john boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this...
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dean just last night said having us go over the fiscal cliff actually wouldn't be the worst of ideas. if that's how we're going to go and president obama has said that he's not going to sign anything without the tax increase, fine, let them own it. have republicans take a step back and give president obama what he wants. >> i've got to get out. thanks to both of you. >> thank you. >> howard dean, we preeshtd it. and katie pavelich, we appreciate it. >>> egypt's government deployed tanks around the presidential palace today after clashes with protesters killed seven people. in syria, meanwhile, rebels continue to advance on damascus, prompting concern that president assad's regime will respond with chemical weapons. question, should the u.s. intervene in any of these here now is mark ginsburg, former white house middle east advisor. welcome back, mark. here's the thing. we drew a red line, president obama drew a red line over these chemical weapons of mass destruction. at what point do we have to start bombing them to prevent them from moving and utilizes those weapons of mass destruct
dean just last night said having us go over the fiscal cliff actually wouldn't be the worst of ideas. if that's how we're going to go and president obama has said that he's not going to sign anything without the tax increase, fine, let them own it. have republicans take a step back and give president obama what he wants. >> i've got to get out. thanks to both of you. >> thank you. >> howard dean, we preeshtd it. and katie pavelich, we appreciate it. >>> egypt's...
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since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with th
since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you...
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jersey shore meets fiscal cliff. chris christie was at the white house and on capitol hill today asking for more federal funding for the sfotorm ravaged state. a republican is asking for more money from washington, as republicans slam the president for additional spending is, well, perhaps problematic. democratic senator chuck schumer whose own home state of new york was hard-hit pointed out the irony of christie's request today saying it doesn't come at an opportune time of the fiscal cliff, both the talks and the fact we're short on money. will it hurt his party or not? roland martin joins me. good to see both of you. ryan, you spoke very early on about how well you thought chris y christie handled this sform politically and ever other way, but now he asks for fungd as republicans try to cut spending. is he hurting his own party? >> whether you're a republican or democratic governor you want to secure money from federal taxpayers. that's a classic move. it sure is. is it undermining republicans in congress? it prob
jersey shore meets fiscal cliff. chris christie was at the white house and on capitol hill today asking for more federal funding for the sfotorm ravaged state. a republican is asking for more money from washington, as republicans slam the president for additional spending is, well, perhaps problematic. democratic senator chuck schumer whose own home state of new york was hard-hit pointed out the irony of christie's request today saying it doesn't come at an opportune time of the fiscal cliff,...
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president obama and house speaker boehner one-on-one in the fight over the fiscal cliff. we take the plunge in 25 days now. that means devastating tax hikes and spending cuts take hold at the start of the new year. congress breaks for the holidays in seven days. but democrats and republicans may be making headway. house speaker john boehner asked democratic leaders in the house and senate to get out of the way so he and the president can negotiate a deal alone. everyone seems to be on board. paul steinhauser is live in washington. nice to see you. new polls. what do americans want to see in a fiscal cliff deal? >> the polls are at these num, the big sticking points, should taxes be raised on those making over $250,000 a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. differe
president obama and house speaker boehner one-on-one in the fight over the fiscal cliff. we take the plunge in 25 days now. that means devastating tax hikes and spending cuts take hold at the start of the new year. congress breaks for the holidays in seven days. but democrats and republicans may be making headway. house speaker john boehner asked democratic leaders in the house and senate to get out of the way so he and the president can negotiate a deal alone. everyone seems to be on board....
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slouw dow the economy. it would. there's no question about it. but if the problem is that we hav
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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it was yet another white house effort to rally support around its approach to the fiscal cliff. joe biden sitting down with seven middle class americans worried about their taxes going up. >> these are hard working, serious americans who are playing by the rules, doing it all right, and struggling already in this economy. >> reporter: jobs numbers, proof the administration says that the president's economic policies are paying off. >> you see it in the retail industry, you see it in transportation. you see it in health care. and you see it in other sectors. you do see a continued movement that continues to show some positive growth. >> reporter: while cautioning the nation's economy is far from a full recovery, administration officials emphasize positive growth, suggesting it puts them in a stronger negotiating position with republicans. one senior administration official told cnn, quote, we shouldn't muck it up by raising taxes on the middle class or playing chicken with the debt ceiling. but one economist who advised senator john mccain, sees no advantage in these numbers for
it was yet another white house effort to rally support around its approach to the fiscal cliff. joe biden sitting down with seven middle class americans worried about their taxes going up. >> these are hard working, serious americans who are playing by the rules, doing it all right, and struggling already in this economy. >> reporter: jobs numbers, proof the administration says that the president's economic policies are paying off. >> you see it in the retail industry, you see...
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this is something that the white house has proposed as part of their fiscal cliff proposal. it's a nonstarter for republicans. but he wanted to put it on the floor to show that even democrats don't support giving the president that kind of authority. he did that and harry reid turned around and said, let's see if we can do it with a simple majority for 51 votes and democrats it appeared had made sure they had that and then mitch mcconnell in return ended up objecting to the very thing he propose eed. take a listen. >> now the republican leader objects his own idea. i guess we have a filibuster of his own bill. >> so this was some maneuvering that went on. mitch mcconnell won the day when he proposed a vote overall on the entire fiscal cliff proposal and harry reid objected to it. it's a little bit of a back and forth going on in the midst of these talks that are now reopened. >> you can't filibuster your own bill. that makes no sense. >> apparently you can. >> thank god it's friday. thank you. we appreciate the update. >>> other stories making news that are not all crazy. >>
this is something that the white house has proposed as part of their fiscal cliff proposal. it's a nonstarter for republicans. but he wanted to put it on the floor to show that even democrats don't support giving the president that kind of authority. he did that and harry reid turned around and said, let's see if we can do it with a simple majority for 51 votes and democrats it appeared had made sure they had that and then mitch mcconnell in return ended up objecting to the very thing he...
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cliff. instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> mr. speaker, you did speak with the president earlier this week. can you characterize that call? did he have any kind of counteroffer? also, we understand that he just is making clear that it is -- got to be increase in rates for the wealthy or no deal. are you willing to give a little bit, maybe just not all the way to 39.6? >> it was the -- the phone call was pleasant. but it was just more of the same. the conver
cliff. instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both...
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the event comes with just 25 days until that fiscal cliff deadline. both sides of the aisle resumed talks thursday. first time that's happened all week. and comes and comes one day after president obama and speaker boehner talk bid telephone. >>> in japan a tsunami warning has been lifted. a 7.3 magnitude quake struck at sea 300 miles from tokyo. a small tsunami was triggered while a building shook in the capital city. happened almost in the same area along the northeastern coast devastated by a earthquake two years guy. >>> attorneys for george zimmerman are suing nbc universal for characterization of him in reporting on the trayvon martin shooting death. lawsuit claims nbc edited 911 recordings to make it appear that zimmerman was racist. nbc says it disputes the accusations and plans to defend itself in court. >>> on every flight, you have to power down your gadgets before takeoff and landing. but -- could that be changing? you might be surprised who is leading the charge. [ nyquil bottle ] hey tylenol, you know we're kinda like twins. [ tylenol bo
the event comes with just 25 days until that fiscal cliff deadline. both sides of the aisle resumed talks thursday. first time that's happened all week. and comes and comes one day after president obama and speaker boehner talk bid telephone. >>> in japan a tsunami warning has been lifted. a 7.3 magnitude quake struck at sea 300 miles from tokyo. a small tsunami was triggered while a building shook in the capital city. happened almost in the same area along the northeastern coast...
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the republicans have presented their plan, which is to my eyes, steeper than the fiscal cliff we're about to fall off of. where does the simpson/bowles recommendation stand, and are they coming to you now and saying, "oh, we forgot. you guys studied this. what do you think? >> well, we studied it for eight months. and it was tough. we didn't-- we had-- it took us three months to establish trust. these guys don't trust each other. they don't even trust each other in their own party. you've got leaders who are people behind them with a shive hoping they can get their job next go-around. poor old durbin has someone looking over his back because he voted for the package. every time they deal and over in the republicans, boehner has to go to work and come back and there's-- now there are 70 of them left, the tea party guys. these are guys who went to congress not to limit government but to stop it. so what are you going to do? and so here we have this plan. everybody says "i love the framework. i just love--" >> jon: everybody loves a good framework. >> and then that will say what did you do w
the republicans have presented their plan, which is to my eyes, steeper than the fiscal cliff we're about to fall off of. where does the simpson/bowles recommendation stand, and are they coming to you now and saying, "oh, we forgot. you guys studied this. what do you think? >> well, we studied it for eight months. and it was tough. we didn't-- we had-- it took us three months to establish trust. these guys don't trust each other. they don't even trust each other in their own party....
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when it comes to the fiscal cliff, the white house has wasted another week. eight days ago, secretary brightener came here to offer a geithner pena to offer a plan. four days ago, we offered a proposal based on testimony of president clinton gaming former chief of staff. there has been a counter offer from the white house. reports indicate that the president has adopted a deliberate strategy to slow walk our economy to the edge of the fiscal cliff. instead of reforming the tax code, the president wants to raise tax rates. if the president get the tax hikes he wanted, we would continue to see trillion-dollar deficits for as far as the eye can see. washington has a spinning not a revenue problem. if the president does not agree with our proposal, he is obligated to offer a plan of his own, a plan that can pass both chambers of the congress. we are ready to talk to the president about a plan. >> you spoke with the president earlier this week. did he have any counter often? fer? he is making it clear that there have to be increases for the wealthy. are you willin
when it comes to the fiscal cliff, the white house has wasted another week. eight days ago, secretary brightener came here to offer a geithner pena to offer a plan. four days ago, we offered a proposal based on testimony of president clinton gaming former chief of staff. there has been a counter offer from the white house. reports indicate that the president has adopted a deliberate strategy to slow walk our economy to the edge of the fiscal cliff. instead of reforming the tax code, the...
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when it comes to the fiscal cliff threatening the economy and jobs, the white house has wasted another week. eight days ago the treasury secretary came here to offer a plan that had twice the planned tax hikes the president campaigned on. more stimulus spending than the added cuts, and did and didn't but net -- in definite increase on the debt limit. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no counter offer from the white house. instead, records indicate the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. intent of reforming the tax code, the president wants to raise tax rates. even if the president got the tax rate hikes he wanted, understand we would continue to see trillion dollar deficit for a start -- far is that i can see. listed, washington has a problem spending, not the revenue problem. the president does not agree with our proposal. i believe is an obligation to families and small businesses to offer a plan of his own, a pla
when it comes to the fiscal cliff threatening the economy and jobs, the white house has wasted another week. eight days ago the treasury secretary came here to offer a plan that had twice the planned tax hikes the president campaigned on. more stimulus spending than the added cuts, and did and didn't but net -- in definite increase on the debt limit. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no counter...
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. >> on the republican side, how would a vote on either the fiscal cliff or raising the debt ceiling help the gop make their case? i am not entirely sure that it would. i am not sure hal and effective issue it would be pure >> the houses out now -- it would be. >> the house is out now. >> there is no public indication. you talk with some senators who yesterday were saying that not a lot is going on, more privately them publicly. but since then, we know that president obama and steve [indiscernible] spoke yesterday evening. the fact that neither side is leaking what happened on that call, you might say that they are trying to get back on track. they know that if they leak each other's confrontations, that is not good. there are only two participating really in this negotiation. and if they choose not to leak out that information widely, it is a speculation. >> what is the handle and how quickly could be brought -- what is the end goal and how quickly could be brought up for a vote? >> the goal is a down payment or some kind of thing for revenues, which is enough to get us past the fis
. >> on the republican side, how would a vote on either the fiscal cliff or raising the debt ceiling help the gop make their case? i am not entirely sure that it would. i am not sure hal and effective issue it would be pure >> the houses out now -- it would be. >> the house is out now. >> there is no public indication. you talk with some senators who yesterday were saying that not a lot is going on, more privately them publicly. but since then, we know that president...
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president obama has the responsibility to propose a real bipartisan plan to avert the fiscal cliff that can pass both the house and the senate. withdrawing from the recommendations of the simpson-bowles commission, the president could propose a plan that would not only avert the so-called fiscal cliff, but also help us avert the fiscal abyss. if president obama were to offer such a plan, republicans would act favorably. going over the cliff is unnecessary. as it has been observed in "the wall street journal," the president is boxing in the republicans. he is offering them a deal they cannot accept. first, the president has repeatedly called for a balanced solution involving both revenue and less spending. what is obvious to the most casual observer is that this plan is not a balanced. the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the pr
president obama has the responsibility to propose a real bipartisan plan to avert the fiscal cliff that can pass both the house and the senate. withdrawing from the recommendations of the simpson-bowles commission, the president could propose a plan that would not only avert the so-called fiscal cliff, but also help us avert the fiscal abyss. if president obama were to offer such a plan, republicans would act favorably. going over the cliff is unnecessary. as it has been observed in "the...
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that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. send. it is the right signal to send to investors that we're serious about getting our financial house in order. i hope was that we do that. chairman, thank you. this is your last committee meeting and you will be missed. thank you again. >> going back to the analogy of the avalanche, when we had the subprime crisis, and there was no warning. one day the avalanche came and there was a total loss of confidence and a fall in the market. likewise, we did have the same type of avalanche come tomorrow. there is no more confidence, nobody buys are debt. -- our debts. they want to sell it andwe would have increased interest rates and huge economic problem. we have two things in front of us. not only the fiscal slope, but also the debt ceiling. treasury estimates at the end -- february. they are very close together. in solving it, would be better to put the debt ceiling in the package with the fiscal slope for a comprehensive solution? or wou
that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. send. it is the right signal to send to investors that we're serious about getting our financial house in order. i hope was that we do that. chairman, thank you. this is your last committee meeting and you will be missed. thank you again. >> going back to the analogy of the avalanche, when we had the subprime crisis, and there was no...
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the reason being, -- go over the fiscal cliff. the reason being, all bush era tax cuts will expire. the senate has already passed the bill for the middle class tax cuts to continue. let the republicans in the house go ahead and fight for the 2% when all of the -- when all will go into effect. take the senate's version. i think they have been sitting on it for eight months in the house. i think it is terrible to treat the american people that way. being from michigan, we are going through a real challenge here from our hitler governor that you have seen in the news. he wants to take us to a right to work state. we all know what happens. wages go down, no benefits. you work and work and work to make the owner rich and the worker sufferers. -- i do think we need to go over the fiscal cliff. host: here is the story from the "new york times" today. we are talking about the fiscal cliff negotiations and whether compromise or sticking to principles should be what members of congress and the president should do here. a couple of weets this morning. when leaders say -- when people say leader
the reason being, -- go over the fiscal cliff. the reason being, all bush era tax cuts will expire. the senate has already passed the bill for the middle class tax cuts to continue. let the republicans in the house go ahead and fight for the 2% when all of the -- when all will go into effect. take the senate's version. i think they have been sitting on it for eight months in the house. i think it is terrible to treat the american people that way. being from michigan, we are going through a real...
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now we can talk about the fiscal cliff. [laughter] let me start off just by, what we will do chris, we will do the house rules and cut in half. in 30 seconds and then we will have time to elaborate on all of this. i just want to go through the panel. what do you think the odds are that some kind of appeal will be cut by january 1 in order to avoid sequestration? mark, i will start with you. >> i think it's 80% that we will avoid sequestration. the question is though, is this going to be a big enough deal and will it actually be the down payment that will lead to something else? it will actually avoid the consequences. that percentage would be lower than the 80%. >> let's come back to the big picture. just in the short-term by january 1, will we avoid the cliff? >> i think it's likely that we will avoid it. it's so easy for us just to do what we need to do. i think the real line in the sand is -- and i have said that for a long time. i think that is one hopefully by that time we will have real entitlement reform which will b
now we can talk about the fiscal cliff. [laughter] let me start off just by, what we will do chris, we will do the house rules and cut in half. in 30 seconds and then we will have time to elaborate on all of this. i just want to go through the panel. what do you think the odds are that some kind of appeal will be cut by january 1 in order to avoid sequestration? mark, i will start with you. >> i think it's 80% that we will avoid sequestration. the question is though, is this going to be a...
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fiscal cliff talk. john boehner says he is waiting for a counter offer from the white house. adam: wall street feers gauge barely pausing. our traders, are they not worried about going over the fiscal cliff quirks we are headed to the for the new york stock exchange next. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink thecore . what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfo find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, crges and expenses. read and conder it carefully before investing. ri includes possible loss of principal. adam: the state of nevada has gambling up. dollars. slot machines are up a whopping 11%. it is a big-time for casino operators to. they lower the cost of financing their debt. melissa: will get that across the board. this is one of those times -- you were supposed to be my boat party. but you one mone
fiscal cliff talk. john boehner says he is waiting for a counter offer from the white house. adam: wall street feers gauge barely pausing. our traders, are they not worried about going over the fiscal cliff quirks we are headed to the for the new york stock exchange next. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink thecore . what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfo find...
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is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes acss the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meang we headed for another show down with congressver raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and fure all of this out, bui think we're jus
is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes acss the board. to go back to what bill clinton had. >> now, some liberals pushed the president to...
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dennis: more fiscal cliff rhetoric from house speaker john boehner and president obama. when are they going to get serious? cheryl: look at live pictures of the original backmobile. we will have the designer and a man who will auction this baby off. dennis: look at today's s&p winners and losers. there is no mass-produced human. every human being is unique. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing being. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that allowyou to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collectio individualize your sleep experience. exclusively at one of our 400 sleep number stores nationwide. sleep number. comfort individualized. this holiday season, give the gift that's magical: the innova
dennis: more fiscal cliff rhetoric from house speaker john boehner and president obama. when are they going to get serious? cheryl: look at live pictures of the original backmobile. we will have the designer and a man who will auction this baby off. dennis: look at today's s&p winners and losers. there is no mass-produced human. every human being is unique. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive...
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melissa: the amazing christian says he can work his magic to fix the fiscal cliff. that's right. all he needs is an hour and a room with both president obama and the house speaker. basically he would play a denim and check on them. he says if he can bring them to the right state of mind and through mental suggestion and mental conditioning that will start compromising. it's a trick of like to see. >> i love someone -- it's unmanly kind of love, but i love this guy the three and a half and on my show of force years ago, and he predicted the super bowl victories. unwilling. melissa: before the game? >> before the game. he lost something up in my room and did not give in hawaiian. a ticket home with me. he predicted it. however embarrassing a think he's met his match year. to vote -- folks inside the beltway don't think logically. that's what i don't think it'll work. >> i said bring the men. given the track. >> bring the man. they can actually find that compromise. >> of love to see him in there. and now he would make sense. melissa: one that at a magician. we already have clouds i
melissa: the amazing christian says he can work his magic to fix the fiscal cliff. that's right. all he needs is an hour and a room with both president obama and the house speaker. basically he would play a denim and check on them. he says if he can bring them to the right state of mind and through mental suggestion and mental conditioning that will start compromising. it's a trick of like to see. >> i love someone -- it's unmanly kind of love, but i love this guy the three and a half and...
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cliff. >> look, i think they're actually some pretty strong incentives for the president to take the country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary of defense and joint chiefs of staff told me i need to restore and can position himself as sort of the protector of u.s. national security. so there are some clear incentives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably not, but do i think there are incentives for him to do it temecula. gerri: never looked at it that way. as you look
cliff. >> look, i think they're actually some pretty strong incentives for the president to take the country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did...
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but regardless of what the number is, we are still one day closer to the fiscal cliff. even though speaker of the house john boehner's office says the lines of communication on both sides are open we know one thing is not being discussed by democrats and that one thing is extending the busheir raw tax cuts for top earners. >> oo i am not going to sign any package that prevents the top to go up but i am going to get something that is good for this fm l and good for the american economy. >> in the senate mitch mcconnell proposed a vote on the part of the president's proposal that would allow the white house and not congress to control on its own without their input. but majority leader harry reid said that is not. >> if the president's proposal is made in good faith our friends should be eager to vote for them. so i am surprised the majority leader declined a chance for them to support it for their votes. so i guess we are left to conclude that it couldn't pass by a fair majority of votes and that they would rather that i can take the country off the cliff. >> get ready t
but regardless of what the number is, we are still one day closer to the fiscal cliff. even though speaker of the house john boehner's office says the lines of communication on both sides are open we know one thing is not being discussed by democrats and that one thing is extending the busheir raw tax cuts for top earners. >> oo i am not going to sign any package that prevents the top to go up but i am going to get something that is good for this fm l and good for the american economy....
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one critical republic who criticized house speaker john boehner over own party fiscal cliff honor says is he resigning. an important man, too. south carolina senator jim demint a key force behind the tea party movement. the founder of the tea party caucus in the senate and who predicted that the healthcare debate would be president obama's water loo. remember that? earlier this week he argued that speaker boehner's proposal tax hikes would destroy jobs. but senator demind says his resignation has nothing to do with the fiscal cliff. it's because he has accepted a job as president of the conservative think tank the heritage foundation. jim demint served three terms as a u.s. congressman from south carolina before voters first elected him to the senate in 2004. mike emanuel is on capitol hill tonight. it's a big resignation,. >> jim demint says is he leaving the senate, shep he is not leaving the fight. in fact, demint might be able to spend more time on issues he is most passionate about at the heritage foundation. he explained his thinking on "special report" a short time ago. >> i thi
one critical republic who criticized house speaker john boehner over own party fiscal cliff honor says is he resigning. an important man, too. south carolina senator jim demint a key force behind the tea party movement. the founder of the tea party caucus in the senate and who predicted that the healthcare debate would be president obama's water loo. remember that? earlier this week he argued that speaker boehner's proposal tax hikes would destroy jobs. but senator demind says his resignation...
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house of representatives speaker boehner says there is in progress in talks to avoid the fiscal cliff. four days after the g.o.p. laid out their proposal, speaker boehner said the white house has to have an offer. the deadline is now 25 days away. the president says there will not be progress until the republicans can agree the wealthiest americans must pay more taxes because it is going to hand. if it doesn't happen he will veto it. mike, the speaker boehner sounded, publicly, sounding frustrateing. >>reporter: he accused the president of slow walking the economy right to the edge of the fiscal cliff and says if the president got the tax increase he wants the country would be facing trillion dollar deficits. >> this isn't a progress report because there is in progress to report. when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously w
house of representatives speaker boehner says there is in progress in talks to avoid the fiscal cliff. four days after the g.o.p. laid out their proposal, speaker boehner said the white house has to have an offer. the deadline is now 25 days away. the president says there will not be progress until the republicans can agree the wealthiest americans must pay more taxes because it is going to hand. if it doesn't happen he will veto it. mike, the speaker boehner sounded, publicly, sounding...
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comes face to face with the fiscal cliff. tonight on "special report," house speaker john boehner says there has been no progress in negotiations with the president. he is again calling on mr. obama to come up with a new proposal. vice president joe biden says a deal could be done in 15 minutes. all this comes as the government announces a gain of 146,000 jobs in the month of november. the unemployment rate fell to 7.7%. that is the lowest in four years but that was mostly due to people who stopped looking for work. both sides agree the u.s. does not want to follow down the path of greece. what is to blame there? too much austerity or too much taxation? we'll look at the problems inside his own party, for speaker boehner. it's friday. that means the lightning round with the panel. "special report" from washington starts at 6:00 eastern. now back to new york and "the five." ♪ ♪ >> bob: kay. there is music for you. on december 3 last year, 16-year-old tyler alfred from oklahoma was driving under the influence and crashed hi
comes face to face with the fiscal cliff. tonight on "special report," house speaker john boehner says there has been no progress in negotiations with the president. he is again calling on mr. obama to come up with a new proposal. vice president joe biden says a deal could be done in 15 minutes. all this comes as the government announces a gain of 146,000 jobs in the month of november. the unemployment rate fell to 7.7%. that is the lowest in four years but that was mostly due to...
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cliff deal with the white house. outside conservative groups are voicing their displeasure saying speaker john boehner could even lose his speakership. carl cameron joins us live in washington. so he has a lot of problems with conservatives right now, car. >> reporter: sure it's not just off the hill. some of the members on the hill. fiscal conservatives are once again whispering, in some cases outwardly and openly explaining about house speaker john boehner and his handling of the negotiations with the white house. john boehner's proposal to increase revenue $800 billion by closing tax loopholes and reforming the code has real problems for some house republicans, most of whom actually campaigned promising to at least hold the line if not cut taxes. this week john boehner tossed four con s*efr teufs known fo conservatives offer key committees. the budget committee and the financial services committee. those four members are complaining but their removal from the committee and john boehner's proposal are supported by
cliff deal with the white house. outside conservative groups are voicing their displeasure saying speaker john boehner could even lose his speakership. carl cameron joins us live in washington. so he has a lot of problems with conservatives right now, car. >> reporter: sure it's not just off the hill. some of the members on the hill. fiscal conservatives are once again whispering, in some cases outwardly and openly explaining about house speaker john boehner and his handling of the...
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martha: the fiscal cliff, president obama and house speaker john boehner set to have a face-to-face meeting, one-on-one. we're waiting to hear from speaker boehner in just about 50 minutes away now. we'll bring you that live. bill: also, it has been 40 years, four full decades since the last man stepped on the moon. that was an american. his name is gene cernan. we'll talk to hem this hour. the last person to see the moon's craters up close and personal. >> ♪ i was stroeling on the moon one day, in a merry, merry of month of -- december. >> may, may. ♪ much to my surprise a pair of eyes, -- >> this is a neat way to travel. [ female announcer ] food, meet flavor. flavor, meet food. it's time for swanson flavor boost. concentrated broth in easy to use packets. mix it into skillet dishes, for an instant dose of... hell-o! [ female announcer ] get recipes at flavorboost.com. bill: we now have a verdict for a bus driver on trial for manslaughter. it will be revealed this morning although the verdict was reached yesterday because a juror had to leave the courthouse for a doctor's appointment.
martha: the fiscal cliff, president obama and house speaker john boehner set to have a face-to-face meeting, one-on-one. we're waiting to hear from speaker boehner in just about 50 minutes away now. we'll bring you that live. bill: also, it has been 40 years, four full decades since the last man stepped on the moon. that was an american. his name is gene cernan. we'll talk to hem this hour. the last person to see the moon's craters up close and personal. >> ♪ i was stroeling on the moon...
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cliff. >> it would take 15 minutes from the time the decision is made by the speaker of the house to pass and make permanent middle class tax cut. the president would probably have me sprint up to the hill to bring the bill down for him to sign. it can be done like that. it is not complicated. >> greg: speaker bane -- >> reporter: speaker john boehner not so optimistic. >> this is not a progress report, there is no progression to report. report. >> reporter: he blasted for not offering a counterproposal to his plan and they seemed more than ever going to stop the tax increase. economy shrugged off hurricane sandy to create 146,000 new jobs, nearly double what forecasters had said, job creation for september and october was revised downward by a total of 49,000. another 350,000 people were so discouraged in november they simply stopped looking for work and left the labor force, which is why the unemployment rate dipped to 7.7%. >> raising taxes on small businesses is not going to help our economy and it's not going to help those seeking work. i came out the day after the election to p
cliff. >> it would take 15 minutes from the time the decision is made by the speaker of the house to pass and make permanent middle class tax cut. the president would probably have me sprint up to the hill to bring the bill down for him to sign. it can be done like that. it is not complicated. >> greg: speaker bane -- >> reporter: speaker john boehner not so optimistic. >> this is not a progress report, there is no progression to report. report. >> reporter: he...
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so the fiscal cliff is looming. there are a the lo of people who say the republicans need to stand together and if the president isn't gog deal fairly and offer up some spending cuts and talk about entitlement reform, the republicans need to be willing to hole hands and jump off the fiscal cliff with the president. are you ready? >> we would prefer that didn't happen. there are a lot of bad outcomes. you got a lot of analysis that's been done, ernst says if we go over the fiscal cliff or raise taxes it will cost us over 700,000 jobs, reduce economic growth, lower take home pay, all those things. that's a bad scenario. the president has made it very clear, tim geithner, his treasury secretary said a couple days ago, absolutely we're ready to go over the cliff. republicans don't think that's the solution. but i do think that if he gets what he wants, he gets higher taxes, he gets defense cuts, if we go over the cliff. so i don't think there is a lot of incentive on the president's part right now to be at the table to
so the fiscal cliff is looming. there are a the lo of people who say the republicans need to stand together and if the president isn't gog deal fairly and offer up some spending cuts and talk about entitlement reform, the republicans need to be willing to hole hands and jump off the fiscal cliff with the president. are you ready? >> we would prefer that didn't happen. there are a lot of bad outcomes. you got a lot of analysis that's been done, ernst says if we go over the fiscal cliff or...
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. >>> also weighing on job creation, the looming fiscal cliff at year's end. aides to president obama and house speaker john boehner, sitting down on thursday. but no progress was made. the sticking points, tax rates for wealthy americans, a possible lifting of the nation's debt ceiling and cutting spending on entitlements. >>> and in yet another bizarre twist in the bizarre saga of software tycoon john mcafee. mcafee was rushed to the hospital thursday from a detention center in guatemala city, after complaining of chest pains. he's now back in his cell and could be send back to belize, where police want to question him about the murder of his neighbor. >>> now, here's diane sawyer with a preview of tonight's "world news." diane? >> so, josh, it's friday. it's great to talk to you. and how about a holiday tradition for years? everybody wondering, what happened to the determined little boy they loved? well, he's all grown up. and he has a perfect gift for you. tonight, behind the scenes of a christmas classic. and he is our "person of the week" tonight. >> can
. >>> also weighing on job creation, the looming fiscal cliff at year's end. aides to president obama and house speaker john boehner, sitting down on thursday. but no progress was made. the sticking points, tax rates for wealthy americans, a possible lifting of the nation's debt ceiling and cutting spending on entitlements. >>> and in yet another bizarre twist in the bizarre saga of software tycoon john mcafee. mcafee was rushed to the hospital thursday from a detention center...
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. >> we've only got 25 days until the fiscal cliff. >> according to "new york times," house speaker john ba boehner has asked democratic leaders to step aside so he and the president can negotiate a deal one on one, and no one is objecting. >>> the crisis in egypt remains volatile, with massive anti-government rallies planned today. >>> heartbreaking survival story for a woman stranded in the snow in the california sierra nevada mountains. >>> shoppers at a seattle macy's had to be hospitalized when an escalator they were riding malfunctioned. >> fire to the end zone. touchdown. >> broncos with their eighth straight win. >> all that -- >> three, two, one! >> my 50th birthday, she gives everybody a car and then she's all, thank you for coming to gayle's birthday! >> we're talking about oprah, right? >> no, of course not. >>> and all that matters. >> south carolina tea party says jim demint is resigning. >> leaving the senate a lot better than i found it. >> jim demint leaves some big shoes to fill. >> jim demint leaves some big shoes to fill. then again -- captioning funded by cbs en agai
. >> we've only got 25 days until the fiscal cliff. >> according to "new york times," house speaker john ba boehner has asked democratic leaders to step aside so he and the president can negotiate a deal one on one, and no one is objecting. >>> the crisis in egypt remains volatile, with massive anti-government rallies planned today. >>> heartbreaking survival story for a woman stranded in the snow in the california sierra nevada mountains. >>>...
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a plan to avoid the fiscal cliff. financial experts were on capitol hill yesterday to talk about the negative impact if those automatic tax increases and spending cuts tick in january 1st. meanwhile president obama paid a visit to a northern virginia family who would suffer financially if a deal isn't reached. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the cost involved in very personal terms. >> still the white house says the across the board spending cuts and tax hikes will takes effect if republicans refuse to raise taxes on the wealthiest americans. meanwhile a new survey shows the president's approval rating is at the highest point since the raid that killed osama bin laden. in addition, 42% believe the nation is heading in the right direction. >>> 6:10, a tycoon wanted for murder, how john mcafee ended up in the hospital. >>> a van plows into a jewelry store, narrowly missing the customer, what the driver says cause
a plan to avoid the fiscal cliff. financial experts were on capitol hill yesterday to talk about the negative impact if those automatic tax increases and spending cuts tick in january 1st. meanwhile president obama paid a visit to a northern virginia family who would suffer financially if a deal isn't reached. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the cost involved in very personal...
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cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first direct talk in almost a week. but today white house spokesman jay carney wouldn't share details of the call. >> we believe it's in the interest of achieving an agreement not to do that. >> reporter: treasury secretary timothy geithner said yesterday the white house was absolutely willing to go over the cliff if republicans held firm in their opposition to raising rates on the wealthy. but it was the administration's other
cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going...
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struggle to avert the fiscal cliff. i'm judy woodruff. >> brown: and i'm jeffrey brown. "washington week" can be seen later this evening on most pbs stations. we'll see you online and again here monday evening. have a nice weekend. thank you and good night. major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy productive life. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by macneil/lehrer productions captioned by media access group at wgbh access.wgbh.org >> this is "bbc world news america." funding of this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu, newman's own found
struggle to avert the fiscal cliff. i'm judy woodruff. >> brown: and i'm jeffrey brown. "washington week" can be seen later this evening on most pbs stations. we'll see you online and again here monday evening. have a nice weekend. thank you and good night. major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all...